Talks: Former Wolves boss Mick McCarthy has decided against pursuing the vacant manager's post at Forest

Mick McCarthy has ruled out taking over at Nottingham Forest after holding talks with the club's new owners.

The Kuwaiti-based Al-Hasawi family took control of Forest last week, immediately deciding to sack Steve Cotterill.

The new owners, who aim to get the Midlands club back in the Premier League, were unveiled at a press conference on Saturday.

At the media gathering one of the
owners - Abdulaziz Al-Hasawi - revealed they had opened talks with
McCarthy, who has proved his credentials at Championship level by
guiding both Sunderland and Wolves to the Premier League as champions in
2005 and 2009 respectively.

Former Republic of Ireland boss
McCarthy was sacked by Wolves at the end of last season following
relegation from the Premier League after almost six years in charge at
Molineux.

Peterborough
manager Darren Ferguson and former Forest midfielder Roy Keane, who has
also won promotion from the Championship as Sunderland boss, are also
thought to be contenders to replace Cotterill, who was dismissed on
Thursday.